Two-Building Multifamily
For Sale
$800,000
16 Church St, Liberty, NY 12754
Eight rental units across two buildings, with a mix of studios, one-bedrooms, and two-bedrooms in Liberty, NY.
Property Size4,676 SF
Days on Market49
Property Features for 16 Church St
General Information
Standard status
Active
Size
4,676 SF
Property subtype
Commercial
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$15,831
Building Details
Building Size
4,676 SF
Year Built
1940
Units
8
Listing Agency:
Catskills Home Services
(845) 397-7768
Listed By:
Alan R. Wieder
(845) 397-7768
Source:
Elliman
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 8 at 1:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Catskills Home Services
Investment Insights
Based on property information with market context.
This multifamily investment at 16 Church Street includes eight rental units spread across two separate buildings. The unit mix consists of one studio apartment, four one-bedroom apartments, and three two-bedroom apartments. Five units are currently occupied on a month-to-month basis, while the remaining three units are delivered vacant, allowing for flexibility with showings and tenant placement. The property would benefit from cosmetic updates, though all units are currently livable.
The property is located in the Village of Liberty, just off Main Street, providing convenient access to local shopping and dining. Nearby options listed in the remarks include New Munson Diner, Liberty Diner, Paesano's Pizzeria, Sweet Basil Thai, Floyd & Bobo's Bakery, and Don Gabriel's Mexican Restaurant. Everyday shopping and services nearby include ShopRite, Trading Post, Walgreens, and Tractor Supply.
As an income-producing residential asset, the configuration offers a straightforward mix of studio, one-bedroom, and two-bedroom units, with both occupied and vacant apartments available to the new owner.
The property is located in the Village of Liberty, just off Main Street, providing convenient access to local shopping and dining. Nearby options listed in the remarks include New Munson Diner, Liberty Diner, Paesano's Pizzeria, Sweet Basil Thai, Floyd & Bobo's Bakery, and Don Gabriel's Mexican Restaurant. Everyday shopping and services nearby include ShopRite, Trading Post, Walgreens, and Tractor Supply.
As an income-producing residential asset, the configuration offers a straightforward mix of studio, one-bedroom, and two-bedroom units, with both occupied and vacant apartments available to the new owner.
Key Highlights
- Multifamily property built in 1940 with eight rental units across two separate buildings in the Village of Liberty, NY
- Unit mix includes 1 studio, 4 one‑bedroom, and 3 two‑bedroom apartments
- Five units currently occupied on a month‑to‑month basis; three units delivered vacant for new ownership flexibility
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,697
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,940
$713.9K
Cap Rate 7%
$509,957
$510.0K
Cap Rate 9%
$396,633
$396.6K
Market Conditions
NOI Build-Up for 4,676 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.7K $15.12/SF
− Vacancy
−$5.8K −$1.24/SF
EGI
$64.9K $13.88/SF
− OpEx
−$29.2K −$6.25/SF
NOI
$35.7K $7.63/SF
Area
Sullivan County, NY
Vacancy
8.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,940
Cap Rate 7%
$509,957
Cap Rate 9%
$396,633
Alternative Uses
Best Use
Apartment 5plus
$510.0K
$446.2K – $595.0K
NOI $35,697 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,779 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 12754, NY
7,654
Population
3,783
Households
2
Avg Household Size
39
Median Age
23%
College-Educated
89%
High-School Grad
28.3 sq mi
ZIP Area
270
Density / Sq Mi
$56,597
Median Household Income
$38,067
Median Earnings
$905
Median Rent
$190,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight rental units across two buildings, with a mix of studios, one-bedrooms, and two-bedrooms in Liberty, NY.
Where is this apartment building located?
The property is located at 16 Church St Liberty, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Multifamily property built in 1940 with eight rental units across two separate buildings in the Village of Liberty, NY; Unit mix includes 1 studio, 4 one‑bedroom, and 3 two‑bedroom apartments; Five units currently occupied on a month‑to‑month basis; three units delivered vacant for new ownership flexibility
